TDS is the tax which is deducted on a payment made by a company to an individual, in case the amount exceeds a certain limit. TCS is the tax which iscollectedby sellers while selling something to buyers. ... TCS deduction is applicable on sales of goods like timber, scrap, mineral wood...
The Government created the compensation cess to ensure that the states get the tax revenue they need to operate. This charge is usually on certain types of goods, and you must pay it in addition to any required GST. This Cess applies to inter-state sales, intrastate sales, and imports. It...